- Tether has backed the $10 million round for cross-border payments firm Mansa.
- Venture capital firm Polymorphic co-led the round, which saw investors raise $7 million to add to $3 million raised earlier.
Tether, issuer of the world’s largest stablecoin USDT, led the $10 million funding round of MANSA, a cross-border payments provider.
MANSA announced the close of the $10 million financing round on Thursday, Feb. 20, noting that the capital injection would be key to the fintech company’s plans to bolster cross-border payments by addressing liquidity challenges facing providers.
Venture capital firm Polymorphic Capital co-led the round, which also attracted the participation of top VC platforms Octerra Capital, Faculty Group and Trive Digital. Mansa had previously raised $3 million in a pre-seed round, with the $7 million secured from investors in the latest raise bringing the total to $10 million.
Per details in a blog post, the company plans to use these funds on its Latin America and Southeast Asia expansion effort. The funding will also go into fresh bespoke liquidity as well as ancillary solutions set to bring payments on-chain.
“By bringing payments on-chain and leveraging efficient liquidity solutions, we are addressing critical challenges in cross-border transactions—making payments faster, cheaper, and more reliable worldwide,” Mouloukou Sanoh, chief executive officer & co-founder of MANSA, said.
Payments firm eyes global expansion
MANSA launched in August 2024 and has grown rapidly amid major partnerships in the payment space.
Its footprint includes integrations with payment providers in Africa, Asia, and South America.
The company’s growth saw it notch $11 million in on-chain transactions in January 2025, a figure that represents a 574% year-over-year increase. Growth comes amid increased stablecoin adoption. USDT is a major player in this effort.
“By leveraging USDT for real-time settlements and instant payouts, MANSA is solving critical pain points for payment companies operating in emerging markets. We are proud to collaborate with MANSA and support their efforts to reshape global payment infrastructure.” Tether CEO Paolo Ardoino, added.
